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Billabong shares go wild, Merchant makes headlines

BILLABONG founder Gordon Merchant was in the news the first week in November. The news banner of the November 6 edition of the local daily Gold Coast BulletinEdeclared Surfie Worth $500mE

The front page story beganThe US terrorist attacks have had a silver lining for Gold Coast surfwear king Gordon Merchant. His company, Billabong, seen by investors as a safe stock in times of recession, has been valued by the share market at more than $1.7 billion, taking Mr.Merchants personal fortune beyond the $500 million markE

The story followed feverish activity on the Australian Stock Exchange the previous day when Billabong shares jumped 38c to $8.63. Over 1.16 million shares worth about $10million changed hands that day.

Gordon obviously isnt the only surfer to score either, many Billabong team riders have made substantial amounts of investment dollars since the company was floated last July. He who dares wins!